Honeycombes secures major retailers as anchor tenants for $140 million mixed-use Ferny Grove Central project

Honeycombes Property Group’s much-anticipated $140 million mixed-use Ferny Grove Central development is underway and already shaping up as a vibrant retail and lifestyle centrepiece for Brisbane’s leafy northwest.

Two major retailers have been secured as long-term anchor tenants by the Queensland developer for the transit-oriented development’s 12,000sq m of retail space.

In cornerstone leasing deals for the project, supermarket giant Woolworths and liquor chain Dan Murphy’s have signed up for a total of 7000sq m.

The leasing terms for the anchor tenancies range from 10 to 15 years.

Peter Honeycombe, Managing Director of Honeycombes Property Group, said the mix and calibre of the duo of anchor tenants reflected both a pent-up demand for quality retail space in the area and the community focus of the Ferny Grove Central project.

“The huge level of interest from retailers, big and small, in what we are creating at Ferny Grove Central has been unprecedented and just goes to show the heightened demand for quality retail opportunities in the area,” said Mr Honeycombe. 

“Woolworths and Dan Murphy’s as the development’s two anchor tenants, will provide the key to reinvigorating this end-of-line railway station precinct into a thriving neighbourhood village that combines retail, residential and entertainment amenities.

“Our aim is to breathe new life into the precinct with Ferny Grove Central and getting the retail mix right is an important part in successfully achieving that as well as satisfying the future needs of the surrounding community.”

The mixed-use development adjoins the Ferny Grove train station, which caters for more than 5000 passengers per day that transit through the end-of-line transport hub

Along with the 12,000sq m retail component and car parking, it also will comprise a residential enclave, The Fernery, featuring 82 luxury boutique apartments complete with a recreational deck, as well as improved pedestrian and cyclist connections through the site.

Facilities for train passengers will also be enhanced with the introduction of a multi-deck commuter car park providing the convenience of undercover parking bays. 

Mr Honeycombe said extensive community consultation had been undertaken by the company in refining the project’s design and other elements to ensure it provides the perfect blend of lifestyle and convenience for the area.

“Our approach has not only been forward-thinking and design-led but also very much community-focused to enable us to deliver a transit-oriented development that will be both transformative and embraced by local residents,” he said.

The leasing deals securing the project’s two retail anchor tenants come off the back of Honeycombes Property Group gaining development approval, which has paved the way for the commencement of construction.

Woolworths has taken a 15-year lease over 3200sq m — the biggest tenancy in the retail centre — for a full-line supermarket fronting Samford Rd with a grocery pick-up service in the basement.

Dan Murphy’s will occupy 1700sq m, also fronting Samford Rd, on a 10-year lease.

“This is a truly unique offering and will assist in creating a lively village square for the people of Ferny Grove and Ferny Hills,” said Mr Honeycombe.

Honeycombes Property Group has brought on board MaxCap as its joint venture capital partner for the Ferny Grove Central development.

JLL’s Cameron Taudevin and Taylor Macri have been brought on for the leasing of the project’s retail component. 

Taylor Macri, senior leasing executive, said the response from speciality tenants has been strong with specific emphasis on Food & Beverage along with Allied Health users. 

“The planning of the retail offering for residents, commuters and the local community has been in consultation for many years and we are excited to deliver such a high-quality offering to Ferny Grove.”

Macri went on to say “Whilst the retail campaign is only just launching, we are very encouraged by the demand to date and expect the majority of the project to be committed in 2021”

It is the latest in a long list of creative and innovative projects — including the recent award-winning $252 million redevelopment of Coorparoo Square in Brisbane’s east — by Honeycombes, which has a development portfolio of current and completed projects totalling more than $2 billion over the past 25 years.